The unexpected rise in petrol prices late on Friday hit the stock market this morning with indices falling on both major exchanges.— Photo hanoimoi

HA NOI (Biz Hub)-- The unexpected rise in petrol prices late on Friday hit the stock market this morning with indices falling on both major exchanges.

The VN-Index on the HCM City Stock Exchange slipped 1.07 per cent to 503.60 points.

Large-cap shares led the downturn as many of the top 30 shares by market capitalisation and liquidity lost value. Biggest losers were property developer Hoang Anh Gia Lai Group (HAG), Southern Rubber Industry (CSM), PV Gas (GAS), software giant FPT Corp (FPT) and steelmaker Hoa Phat Group (HPG) with losses ranging between 1.6 to 3.1 per cent.

However, trading remained positive, with more than 44.5 million shares, worth VND810.5 billion (US$38.6 million), changing hands by the end of the morning.

Tan Tao Investment Industry Corp (ITA) temporarily led the market on trades, with more than 3 million shares at a value of VND7,900 each, but fell 2.5 per cent from Friday's close.

On the Ha Noi Stock Exchange, the HNX-Index also closed down 1.16 per cent at 84.67 points on a low market value of VND261 billion ($12.4 million).

Sai Gon-Ha Noi Bank (SHB) was the most active code on the northern bourse this morning with over 5 million shares traded at VND7,000 a share. - VNS